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September 5, 2015 at 11:14 am
Hi mike?Could you plz tell me why not to add CSC of each year to I/S ? I think we should debit the expense ,like 1470, and credit the liability 1470 in the first year and so on. THX
September 5, 2015 at 3:18 pm
Which example? Can you give me a page number from the notes?
January 1, 2015 at 6:02 pm
I’m slightly confused about this…………when it says she earns a equivalent of a lump sum of 2,000, does this mean altogether for these 5 years she gets 2,000 or does it mean she get 2,000 every year for 5 years?
January 1, 2015 at 7:55 pm
I believe the question says that she earns the equivalent of $2,000 for each year – am I not correct?
January 1, 2015 at 8:53 pm
the question states “that the pension benefits which she will earn, for each of the next
five years, are the equivalent of a lump-sum on retirement of $2,000” – I took this to mean that the total lump sum over 5 years she would receive is 2,000?
January 2, 2015 at 10:27 am
ok – so what do you understand by the word “each” in this comment? “for each of the next five years”
November 11, 2014 at 3:46 pm
Is the 10% corridor still in force and examinable, as per the notes in the lecture?
November 11, 2014 at 4:20 pm
No Daniel, the 10% corridor no longer exists. That’s an area that I need to refectory.
Unfortunately, I can’t record this before the December exams
November 11, 2014 at 6:44 pm
Thanks for the prompt reply. Your lectures are great.
The word “refectory” in your response made me laugh!! I think you need to “refectory” that. Lol!!
November 12, 2014 at 6:27 am
Automatic predictive texting! Of course, it should be “rerecord”
November 1, 2014 at 12:13 am
One of my company’s benefit for management staff is giving a “grant” called Long Term Incentive Plan (LTIP), which they will state in this grant letter how much they will pay you a lump sum in 3 years time with terms and condition. It will be “burn” if you resign within that period of 3 years. Grant is renewed every 3 years.
My Q (for my understanding of terminology of “Post Employment Benefits” as per IAS 19)
Does LTIP being defined as “post employmen benefit”?
My confusion-after completion of employment. Does that mean after resigning as well? Retiring-for me, no confusion here. I believe it should fit into this terminology. Am I correct for this?
Thank you in advance.
November 1, 2014 at 6:48 am
I don’t think this is an employee benefit under IAS 19
It sounds more like a share-based payment under IFRS 2 except there are no shares apparently involved.
I imagine the same rules apply calculate the total value involved. Divide by 3. Dr PorL by that amount for each of 3 years building up the obligation and, at the end of 3 years, settle the obligation.
Hope that helps
November 1, 2014 at 11:12 am
yes, your assumption of double entry is correct..
N Rudenko says
September 6, 2014 at 8:06 pm
Could you please clarify why it is a problem for a company when retired employees leave longer? Are these benefit plans contribute to the employees after they have retired?
September 6, 2014 at 8:35 pm
No, but if the company is paying the pension to its former employees, then the longer the retired employees live, the more years of pensions will have to be paid.
My parents and my aunt got almost as many years pension as they had worked ie they worked for 40 years and received pensions for 38 years.
The longer you live, the more benefits you will receive
September 22, 2014 at 4:29 pm
September 23, 2014 at 7:02 am
November 12, 2013 at 12:55 pm
what is FO
November 12, 2013 at 4:41 pm
September 29, 2013 at 3:10 am
Mike your way of teaching is so interesting N lively….P2 seems interesting now with your lecturers:))
March 12, 2013 at 8:26 am
Example 1 why the table shows 2005—2009 however the textbook shows 2010—2014???
February 25, 2013 at 6:52 pm
Mike, last sentence on page 73 of June 2013 notes says that ” the psc should be expensed in the year of the scheme change, whether or not they relate to current employees.”, and in the lecture you say that there are two different ways of treating the psc. Could you clarify what the correct treatment of the psc is, please?
March 12, 2013 at 7:41 pm
Lecture has been re-done following the revision to IAS 19. PSC should now be expensed in the year of change
August 20, 2012 at 9:57 pm
In example one , why do we roll back to 2005…
June 24, 2012 at 10:13 pm
Just going through some changes in IAS 19..They seem quite a few. Please can lectures be redone with these changes as applicable from January 2013….so examinable in December i guess?
Please Graham…publish a technical article on this as not everyone is able to afford lectures..Thanks!
June 24, 2012 at 9:09 pm
I am actually enjoying pensions!! unbelievable…Thanks Mike….but the ASSET cealing test i hear has been cancelled so how do we apply the change?
June 16, 2012 at 7:33 pm
Been listening to all of his lectures and i’ve started to actually like the subject but what can we say? You can’t please everyone. Great lectures Mike! We love them. Thank you opentuition.
June 8, 2012 at 2:45 pm
Can someone please confirm the 10% corridor approach is no longer applicable? Cheers.
June 8, 2012 at 3:06 pm
@terrygeez, Ignore me!
May 29, 2012 at 1:10 pm
May 2, 2012 at 11:37 pm
I love his stories, it helps me to remember the lecture,,,
Great Lectures,, Love listening to lectures on here,,,Thank you Open tuition you’re a great help
mary Cawley says
April 7, 2012 at 6:07 pm
Brilliant lecture by Mike…we want more stories about your family….ignore ignorant and sad people who make bad comments about Mike. Mike has got a very good sense of humour…if you don’t want to listen to Mike’s stories then don’t listen to the lectures simple..!!!!!!!!
June 13, 2011 at 5:42 pm
Different lecturers have different ways of bringing out their subject area.
If you want dull boring lectures go read your text book only. Open Tuition offers students free notes and free lectures.How many other colleges offer that to students? Now be grateful instead of telling the lecturer how to to his business. Thank you Open Tuition for your
much needed assistance.
December 9, 2010 at 11:44 am
I wish he would just stick to the content of the syllabus,not interested in his family
February 14, 2011 at 10:40 pm
it sometimes aid in giving a better understanding of the topic…..some students appreciate it and I personally think if u r getting something for free why r u complaining,try being grateful instead.
October 30, 2011 at 7:02 pm
I think the lesson is very interesting and what he said about his family was to relax your brain.so, relax
November 30, 2011 at 1:50 am
i can not hear a word against Mike , I love him!!!
May 5, 2012 at 10:54 am
@nicklyons, shut it if u have nothing to say…ur sad
November 8, 2010 at 2:01 pm
this lecturer is very interesing. makes the lecture so lively esp when he talked about his family having long estimated useful lives. kudos
August 6, 2010 at 12:16 am
LEARNING SOME INTERESTING STUFF HERE
July 26, 2010 at 6:21 pm
it plays just fine,
maybe it was some temporarily glitch..
July 26, 2010 at 5:42 pm
this is not playing . I ve been waiting for 20 mins. what problem but other papers lectures are playing and why not it is?
June 26, 2010 at 1:40 pm
May 6, 2010 at 9:06 am
very profesional lecture.I am a Kaplan financial student but do appreciate the tutors on the site.thy r awesome.
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